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Hi there,
Question related to Tax..
Can I distribute Principal amount of home loan under 80C between two People..
For example.. I Have principal amount of 2Lac.. and want to distribute it in 1.5 Lac & 50k between me and my Dad.. (my dad is co-owner in loan)
Can't find answer online so asking here.. if you find it... Link will be helpful.
Thanks
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Does anyone happen to be in or know anyone who is in the RUV alliance Angel Investment syndicate? https://ruvalliance.com/
We’re looking for angels who are familiar with investing through RUVs (a special purpose vehicle on Angellist) and specifically think the RUV Alliance could bring a lot of value.
#startup #angelinvesting #investing #angels
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I could say a simple YES for the sake of brevity but that would not be helpful.
Architecture is a profession where money comes with gray hair. Starting salaries even for masters grads range between $60-70k depending on location and this is just enough to get by. Certainly not enough to pay off a big loan anytime soon and long way off from owning a house and car or supporting a family unless you slum it out the first several years.
For compensation increase you will have to work your way up which will take several years of experience, stressful work life, appear for 6 license exams and get other credentials like LEED or WELL accreditations. You will find several people on this thread making $100k after 10 years of experience, less than what people in tech, investment banking, law, medicine make straight out of school.
The solution is to develop a niche or specialized skill in domains such as BIM management, Design Computation, Sustainability or Fabrication/3d printing. The pay is significantly greater even for early career professionals but a lot of the niche roles could be concentrated in bigger cities with HCOL or more competition.
You could also jump jobs every 2-3 years to get a 20-30pc pay raise vs a standard 3-5pc raise if you stick to a job but job jumping will eventually start reflecting on your resume and general lifestyle.
Another more creative way would be to move away from traditional architectural design roles or design firm employers and look at avenues where your skills are transferrable, Real estate management? Motion Graphics? Working at Autodesk or Nvidia and creating the software the entire profession uses? Joining an AI based startup that you think is creating a great product? None of those come easy but if getting a higher pay and paying off your loans after several difficult years of school is a priority (which it should be), you could always be creative.
If you are not on an immigrant work visa that restricts you to a single source of income and unable to make a total switch, look at diversifying sources of income. Tap into other fields you can draw income and capital from. Have an independent side gig, consultancy roles, a youtube/tiktok channel with tutorials, invest in a property to rent out, plan out your retirement and investment strategies. DO NOT rely on an architectural job income to sustain you. That is a financial death knell.
Having spent 25 years in the business, I’d say so, yes! It’s a brutal and thankless career unless you marry a partner with a proper paying job who will support you! I left architecture for construction years ago.
Every architecture, engineering, and construction professional has a “come to jesus” moment, some in school, some early in their career, and others get it much later. Yes, architecture pays shit compared to industries with relative levels of pressure. That said, if you find the work rewarding enough to stick with it, that’s fine too.